Is the following statement true or false? Briefly explain why. "The engineering approach to demand analysis...

Is the following statement true or false? Briefly explain why.

"The engineering approach to demand analysis provides an estimate of water requirements, not water demand."

Expert Solution

Engineering economics, recently known as engineering economy, is a subset of economics worried about the utilization and application of monetary principles in the examination of engineering decisions.

As a control, it is centered around the part of economics known as microeconomics in that it contemplates the conduct of people and firms in settling on choices with respect to the designation of restricted assets. Consequently, it centers around the dynamic cycle, its specific circumstance and environment.

It is down to business naturally, coordinating financial hypothesis with engineering practice. But, it is likewise a streamlined utilization of microeconomic hypothesis in that it stays away from various microeconomic ideas, for example, value assurance, rivalry and demand/supply.

Therefore above statement is true.

Rahul Sunny answered 3 years ago

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